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AmextaFinance > Investing > GitLab Shares Slump 20% After FY25 Guidance Disappoints
Investing

GitLab Shares Slump 20% After FY25 Guidance Disappoints

News Room
Last updated: 2024/03/05 at 9:30 PM
By News Room
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By Ben Glickman

Shares of GitLab fell late on Monday after the company’s guidance for the next fiscal year came in shy of analysts’ expectations.

The stock was down 20% to $59.50 in after-hours trading, following a 1.6% rise at Monday’s close. Shares are up about 18% since the start of the year.

The San Francisco-based code hosting platform said it expects to log an adjusted profit of 19 cents to 23 cents a share in fiscal 2025, below the 35 cents a share expected by analysts.

GitLab forecast revenue of $725 million to $731 million, compared with the $730.2 million forecast by analysts, according to FactSet.

The company’s loss narrowed in the fiscal fourth quarter. Stripping out certain one-time items, the company posted a profit ahead of analysts’ expectations.


Write to Ben Glickman at ben.glickman@wsj.com

Read the full article here

News Room March 5, 2024 March 5, 2024
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